Staff of Reuters 2 minutes Reuters (Reuters) – Authentic Brands Group Inc filed for an initial public offering in the United States on Tuesday, following a year in which the parent company of Aeropostale and Sports Illustrated magazine enjoyed robust earnings growth. Authentic Brands listed asset management BlackRock Inc, US private equity company General Atlantic LLC, and mall owner Simon Property Group Inc as stockholders in a regulatory filing. According to a regulatory filing, Authentic Brands, which also owns the Forever 21 brand, seeks to issue its stock on the New York Stock Exchange under the name “AUTH.” The company’s net income for 2020 increased to almost $211 million from $72.5 million a year before, while revenue increased nearly 2% to $488.9 million. CNBC reported in May that the company was aiming for a $10 billion value in its IPO, citing a source familiar with the situation. Authentic Brands Group has quickly collected over 30 labels that are carried in around 6,000 outlets, at a time when peers like PVH are consolidating their portfolios by selling off brands. Its diverse brand portfolio includes names from the media, entertainment, fashion, home, active, and outdoor lifestyle industries. Last month, Authentic Brands Group agreed to buy the Izod, Van Heusen, Arrow, and Geoffrey Beene trademarks from Calvin Klein’s parent company, PVH Corp, for $220 million. In the filing, the owner of the Nautica brand also stated that it intends to buy more companies, with prospects in lifestyle, entertainment, and other new areas. The IPO’s primary underwriters include BofA Securities, J.P. Morgan, and Goldman Sachs & Co LLC. Praveen Paramasivam contributed reporting from Bengaluru, and Maju Samuel edited the piece./n
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